By REBECCA MUSHOTA –
CABINET has approved, in principle, to introduce Bills to Parliament that will give effect to provisions of the new Constitution.
According to the decisions made by Cabinet that sat on Monday this week, Cabinet decided to approve, in principle, to introduce the Bills in Parliament in order to give effect to the provisions of the newly amended Constitution.

. KAMBWILI

This was according to a statement issued by Chief Government Spokesperson and Minister of Information and Broadcasting Chishimba Kambwili yesterday.
“Consequential Legislation: following the enactment of the Constitution of Zambia Act, No. 16 of 2015 and the Constitution of Zambia (Amendment) Act, No. 17 of 2015, under this item, Cabinet approved in principle to introduce Bills in Parliament in order to give effect to provisions of the Constitution of Zambia Act, 2015, and the Constitution (Amendment) Act, 2015 which require the enactment of legislation,” Mr Kambwili said.
The meeting also approved proposed tax measures which are aimed at sustaining operations in the mining industry, securing jobs for the citizens as well as collect more tax revenue in times of relatively high copper prices.
The measures to be introduced are varied mineral royalty rate for copper based on the prevailing copper price, a flat mineral royalty rate of five per cent for other base metals, industrial minerals and energy minerals and flat mineral royalty rate of six per cent for precious metals and gemstones.
This review in the taxation regime was deemed necessary to sustain continuous operation of existing mining companies and avert job losses.
Also approved was the establishment of a Leaders Contributory Pension Fund for the President and other Constitutional office holders and other leaders, which is a defined benefit scheme and members would be required to contribute 12 per cent of total emoluments and Government contribution would be made at a rate to be recommended from time to time by Government Actuary.
Cabinet also approved contraction of highly concessional loans with favorable terms of US$30 million, $73 million, $29.5 million and $45 million to develop women and youth skills, build 144 prefabricated bridges, complete infrastructure development and to reduce poverty.
It was decided that it was necessary to increase the maximum amounts of both external and domestic loans that could be raised by the Minister of Finance to bridge the financing gap in the 2016 Budget and to provide development resources in the medium term, following the depreciation of the Kwacha.
It was also noted that 15,000 hectares of land in the Luswishi Farm Block in Lufwanyama District has been allocated to three prospective investors who would invest a total of $81 million and potentially create about 1,500 jobs.